Resource and Reserve Estimates - Finland

Kuhmo Mineral Resources
Location

Classification

Tonnes

(Mt)

Ni

(%)

Cu

(%)

Co

(%)

Pt

g/t

Pd

g/t
Vaara Indicated 2.62 0.49 0.04 0.01 0.11 0.28
  Inferred 0.14 0.45 0.04 0.01 0.10 0.24
  Total 2.76 0.49 0.04 0.01 0.11 0.27
Peura-aho Indicated 0.40 0.63 0.29 0.04 0.28 0.62
  Inferred 0.09 0.48 0.23 0.03 0.21 0.42
  Total 0.49 0.60 0.27 0.04 0.27 0.58
Hietaharju Indicated 0.85 0.85 0.44 0.06 0.53 1.25
  Inferred 0.24 0.59 0.27 0.04 0.34 0.89
  Total 1.09 0.80 0.40 0.05 0.49 1.17
Sika-Aho Total 0.17 0.66 0.01 n/a n/a n/a
Arola Total 1.50 0.46 n/a n/a n/a n/a
Total   6.01 0.55

Contained nickel 33,200 tonnes

Outokumpu Area Resources
Deposit

Classification

Tonnes

(Mt)

Cu eq

(%)

Cu

(%)

Co

(%)

Ni

(%)

Zn

(%)

Au

(g/t)
Kylylahti See detailed table
 8.40 2.3 1.25 0.24 0.20 0.54 0.68
Saramaki Inferred 3.40 1.1 0.71 0.09 0.05 0.63 -
Vuonos Inferred 0.76 2.3 1.76 0.14 - 1.33 -

 

Hautalampi

 Measured 1.03 - 0.47 0.13 0.47 0.06 -
Indicated 1.23 - 0.30 0.11 0.42 0.07 -
Inferred 0.90 - 0.30 0.10 0.40 0.10 -
Total 3.16 1.8 0.36 0.11 0.43 0.07 -
Riihilahti Indicated 0.14 2.2 1.69 0.04 0.16 - -
Valkeisenranta Indicated 1.54 1.8 0.29 0.03 0.71 - -
Sarkiniemi Indicated 0.10 1.9 0.35 0.05 0.70 - -
Sarkalahti Inferred 0.19 2.2 0.33 - 1.02 - -
Niinimaki Indicated 0.08 - 0.33 0.04 1.13 - -
Inferred 0.02 - 0.30 0.03 0.89 - -
Total 0.08 2.5 0.32 0.04 1.07 - -
Total   17.77 2.0 0.87 0.16 0.27 0.41 -
Copper equivalent calculation detailed on slide 54 Kylylahti details on slide 34, see Vulcan ASX release of 16 November 2009 for more details and Altona ASX release 2 August 2010.

Kylylahti Resources & Reserves

Tonnes

(m)

Cu

(%)

Co

(%)

Ni

(%)

Zn

(%)

Au

(g/t)
RESOURCES
          
Measured 0.62 1.35 0.27 0.17 0.47 0.60
Indicated 7.47 1.25 0.24 0.20 0.54 0.70
Inferred 0.31 0.97 0.24 0.18 0.70 0.57
Total 8.40 1.25 0.24 0.20 0.54 0.68
Contained Metal (t)   105,000 20,160 16,800 45,360 183,560oz
RESERVES            
Probable 4.34 1.56 0.29 0.17 0.58 0.65
Contained metal (t)   67,850 12,600 6,200 25,200 90,800oz

(See ASX release of 23 July 2010 and 2 August 2010 for details of estimation)